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Santa Fe Metals Corp Announces Private Placement


Wednesday, 6 Feb 2013 09:00am EST 

Santa Fe Metals Corp announced that it intends to privately place (the Private Placement) 8,340,000 units of the Company (Units) at a subscription price of $0.06 per Unit for gross proceeds of $500,400. Each Unit will consist of one post-Share Consolidation (as described below) common share of the Company (the Post-Consolidation Shares) and one common share purchase warrant of the Company (Warrants). Each Warrant will entitle the holder thereof to purchase one Post-Consolidation Share (Warrant Shares) at a price of $0.12 at any time prior (Vancouver time) on the date that is two years from the closing date of the Private Placement. The Company will have the right to shorten the exercise period of the Warrants to 30 days in the event that the closing price of the Post-Consolidation Shares on the TSX Venture Exchange (the Exchange) exceeds $0.25 for 10 consecutive trading days. In addition, the Company intends to privately place 3,340,000 flow through Post-Consolidation Shares of the Company at a subscription price of $0.06 per FT Share for gross proceeds of $200,400. The Private Placements will take the form of an issuance of subscription receipts, which will be converted into Units and FT Shares, respectively, only after the Share Consolidation is completed. 

Company Quote

0.06
0.0 +0.00%
24 Jul 2014